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Nintex > Case Studies > Modernizing Fintech Business Processes with IoT
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Modernizing Fintech Business Processes with IoT

Technology Category
  • Cybersecurity & Privacy - Security Compliance
  • Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
  • Food & Beverage
  • Life Sciences
Applicable Functions
  • Quality Assurance
Use Cases
  • Leasing Finance Automation
  • Regulatory Compliance Monitoring
The Challenge
A global biotechnology company, with divisions focusing on animal and food safety, genomics research, life sciences, and toxicology, was struggling with an 'old school' system of email and paper forms. This system made processes complex and time-consuming, leading to extended approval processes and a high probability of error. The company needed to meet stringent requirements not only for each line of business, but also compliance across local, state, and federal government agencies both in the U.S. and globally. The company initially relied on Microsoft SharePoint to improve collaboration, but soon realized they needed a low-code process automation platform to ensure end-to-end workflows were meeting the requirements of the business.
About The Customer
The customer is a global biotechnology company with divisions focusing on animal and food safety, genomics research, life sciences, and toxicology. The company operates both in the U.S. and globally, and it needs to meet stringent requirements not only for each line of business, but also compliance across local, state, and federal government agencies. The company was previously using an 'old school' system of email and paper forms, which made processes complex and time-consuming. The company's goal was to bring critical food and safety products to market faster while ensuring regulatory compliance.
The Solution
The company decided to implement Nintex K2 Five, a low-code process automation platform, to transform its email and paper-based processes into digital and automated workflows. This allowed the company to achieve a digital transformation of processes, providing tighter standardization and increased user productivity. The team was able to make and fulfill requests easily using K2 Five forms and workflows. The company also automated its rigorous regulatory and compliance procedures using K2 Software SmartForms and workflows with different stages of approvals based on a variety of parameters. For instance, if it is an initial request for a foreign country, it needs to go through a different approval process than if it were domestic, while a state request is another approval process—all of which is configured within the form and specific SharePoint list.
Operational Impact
  • The implementation of Nintex K2 Five has led to a significant transformation in the company's business processes. The company has been able to automate its workflows, reducing the complexity and time-consuming nature of its previous system. This has not only reduced errors but also freed up employee time to focus on customers. The company is now able to meet its stringent regulatory requirements more efficiently, and bring its products to market faster. The digital transformation has also led to tighter standardization and increased user productivity, further enhancing the company's operational efficiency.
Quantitative Benefit
  • 50 workflows automated
  • Reduces errors
  • Frees employee time to focus on customers

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